Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

City of Overland Park Kansas Real Estate Update

Overland Park KS Real Estate Market Stats <> 15-day Update

* Average Newest Under Contract considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days and stats were pulled in the AM on 4/30/09.

In the city of Overland Park KS there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). This creates a further surplus of supply in Overland Park Kansas. Using the past 15 days of closed homes as a basis for figuring the absorption rate in Overland Park, there’s a little over 8 months of inventory on the market. As we’ve been seeing in most areas of the Kansas City metro, the Pending sales are looking better than the homes closed. If we run the numbers based on Pending sales (remember that all pending sales will not make it to the closing table), then the absorption rate is much improved 4.5 months of inventory.

Keep in mind that a 15-day period is a small sampling of Overland Park Kansas market activity. This information is designed to look at the what’s going on now in the current real estate market and it does not indicate the real estate markets long-term trend.

Posted by Jason A. Brown

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